topic Re: What is the easiest way to get spend 2,000,000 monthly on credit cards? in Business Credit

What is the easiest way to get spend 2,000,000 monthly on credit cards?

Anonymous — Wed, 01 Jul 2020 08:37:02 GMT

Greetings,

I own a business and would like to expand my revenue. I would like to be able to spend 2,000,000 a month on credit cards. The less credit cards the better. Idealy, I would like to have 2% cash back. I thought of a few suggestions that could work:

Open 40x50k limit cards
Open 20x100k limit cards
Open 10x200k limit cards
Open 4x500k limit cards
Open 1x2M limit credit card
Find a person that can lend me their 2M credit limit card and split rewards with them.
Use 2M collateral in investments or CD to have a bank issue a secured CC with 2M limit.

What is the easiest way I can achieve this? If you have any other suggestions, feel free to let me know.

Re: What is the easiest way to get spend 2,000,000 monthly on credit cards?

K-in-Boston — Wed, 01 Jul 2020 09:20:35 GMT

Open one American Express charge card.

Re: What is the easiest way to get spend 2,000,000 monthly on credit cards?

Anonymous — Wed, 01 Jul 2020 10:45:00 GMT

@K-in-Boston wrote:
Open one American Express charge card.

/thread

Re: What is the easiest way to get spend 2,000,000 monthly on credit cards?

Anonymous — Wed, 01 Jul 2020 11:31:48 GMT

Even at a relative modest 1% cash back reward scenario (assuming a combination of cards that let you have such high limits) , at $20,000 cash back per month, maybe you can use some of your reward to pay down some myFICO members' credit cards!! After all we give out excellent and valuable free advice 😜😊

Re: What is the easiest way to get spend 2,000,000 monthly on credit cards?

Creditaddict — Wed, 01 Jul 2020 14:07:55 GMT

American Express Platinum Charge.

Put your bank account on it, everytime card declined, log in and click pay in full current balance.

charging privileges will open again and off you go... rinse and repeat... The "internal" limit will grow VERY quickly!

Re: What is the easiest way to get spend 2,000,000 monthly on credit cards?

Anonymous — Wed, 01 Jul 2020 14:45:36 GMT

@Anonymous wrote:
Even at a relative modest 1% cash back reward scenario (assuming a combination of cards that let you have such high limits) , at $20,000 cash back per month, maybe you can use some of your reward to pay down some myFICO members' credit cards!! After all we give out excellent and valuable free advice 😜😊

Very good advice. There would be nothing I would like better than to return the favor to all that assisted me!!

Re: What is the easiest way to get spend 2,000,000 monthly on credit cards?

Anonymous — Wed, 01 Jul 2020 15:09:34 GMT

I had a platinum and took the line up to 500k, but it was a hassle to keep it at that level. I tended to use 1.5% or 2% cash-back cards when I had the opportunity so the limit kept dropping quite fast. Also, AmEx constantly kept calling and requesting early payments. They didn't seem as professional as when I first got the account in 2009, so I stopped using them.

Re: What is the easiest way to get spend 2,000,000 monthly on credit cards?

CreditobsessedinFL — Thu, 02 Jul 2020 03:57:39 GMT

@K-in-Boston wrote:
Open one American Express charge card.

Mic drop

Re: What is the easiest way to get spend 2,000,000 monthly on credit cards?

MacCreed — Fri, 03 Jul 2020 05:55:30 GMT

The Amex Business Plum card.

Better yet establish an account with your vendor and work out a cash discount.

Re: What is the easiest way to get spend 2,000,000 monthly on credit cards?

SouthJamaica — Sat, 04 Jul 2020 04:22:07 GMT

@Anonymous wrote:
Greetings,
I own a business and would like to expand my revenue. I would like to be able to spend 2,000,000 a month on credit cards. The less credit cards the better. Idealy, I would like to have 2% cash back. I thought of a few suggestions that could work:
Open 40x50k limit cards
Open 20x100k limit cards
Open 10x200k limit cards
Open 4x500k limit cards
Open 1x2M limit credit card
Find a person that can lend me their 2M credit limit card and split rewards with them.
Use 2M collateral in investments or CD to have a bank issue a secured CC with 2M limit.
What is the easiest way I can achieve this? If you have any other suggestions, feel free to let me know.

The only business card I know that would pay 2% cash back on a theoretically unlimited basis is the Capital One Spark 2% Cash Back card, but (a) it triple pulls your credit, (b) it reports to your personal credit, and (c) you would have to build up gradually, and I doubt you could ever get to $2M per month, or anything even remotely in that ballpark. If you got a 25k limit, and paid it down to zero 5 or 6 times a month, you might get $100k spend out of it in a month, and they would probably increase your limits gradually from there.

Re: What is the easiest way to get spend 2,000,000 monthly on credit cards?

Anonymous — Thu, 20 Aug 2020 04:20:10 GMT

I have much better questions:

What is your projected MS Loss rate?

How many checking account shutdowns are you expecting?

What will you do when there are no more banks left to give you a checking account?

How long do you expect whatever loophole you think you can run $2MM through a month will stay open?